BLG 2.00% 2.5¢ bluglass limited

directors trades.

  1. 1,750 Posts.
    Hungry for news on BLG, I went hunting for some hidden gems.

    Alas I have found nothing new but I thought I would take the opportunity to explore the issue of directors trades.

    The following page from the "Business Spectator" website (You know the one where Alan Kohler is smiling at you from the top of all the pages - Bless his cotton socks!)

    http://www.businessspectator.com.au/bs.nsf/Article/Bluglass-director-buys-117k-shares-YEASY?opendocument&src=rss


    Starts...
    NEWS

    6:25 PM, 4 Dec 2009| More
    Bluglass director buys 117k shares


    Source: News Bites

    Bluglass Ltd director Chandra Kantamneni directly bought 117,647 shares for $20,000 on December 4 2009. He has 117,647 shares.

    Director Mike Taverner bought 294,118 shares for $50,000. He has 621,618 shares.

    Director George Venardos indirectly bought 294,118 shares for $50,000. He has 294,118 shares.

    Director Greg Cornelsen bought 352,941 shares for $60,000. He has 877,941 shares.

    STOCK DASHBOARD: December 04, 2009

    BluGlass

    Price at 1:00 pm: 21.0c

    Price change from previous trading day: 7.7%

    Relative Strength (6 months percentile rank): 9.2

    Market capitalisation: $40.1 million

    Turnover volume: 50,000.0

    Volume Index (1 is average): 0.3

    Turnover value: $10,300

    Turnover period: 2 years 8 months

    Value of $1,000 invested 1 year ago: $1,273

    Source: www.BuySellTips.com

    STOCK DASHBOARD: December 04, 2009

    BluGlass

    Price at 1:00 pm: 21.0c

    Price change from previous trading day: 7.7%

    Relative Strength (6 months percentile rank): 9.2

    Market capitalisation: $40.1 million

    Turnover volume: 50,000.0

    Volume Index (1 is average): 0.3

    Turnover value: $10,300

    Turnover period: 2 years 8 months

    Value of $1,000 invested 1 year ago: $1,273

    Source: www.BuySellTips.com

    Ends.

    Here is the chart with the trades marked (to save you the bother).

    Stock Price Chart - HotCopper - Australian Stock Market (ASX) Forum

    So unsure of the time period that the directors have to abide by with regard to continuous disclosure rules I started some further investigation.

    This is the part where I was gonna tell everyone what that damn period is but I can't find the blastHard. Bu88er it!

    Anyone know where to find it on the ASX website?

    Anyway regardless of the period, I thought it interesting that the directors trade came immediately after the announcement of the "Exclusive Korean Rights Update" in which we were notified that the agreement with BLK has been revoked due to their inability to meet a deadline set by BLG.

    So... I ask you. Are Chandra Kantamneni, Greg Cornelsen, Mike Taverner and George Venardos sadly mistaken as to the importance of that announcement or is there something more, something festering under the surface in a bubbling cauldron of exceptions to the continuous disclosure rules? Rules as many and varied as these.....

    It would be a breach of a law to disclose the information.
    The information concerns an incomplete proposal or negotiation.
    The information comprises matters of supposition or is insufficiently definite to warrant disclosure.
    The information is generated for the internal management purposes of the entity.
    The information is a trade secret.

    ALL of which could reasonably be applied to BLG and the technology they are attempting to popularise via every cloak and dagger backroom deal that one could imagine (OK so a fair amount of supposition on that one but y' know what I mean).

    Yep. I know what you are thinking. The ratification of issued shares that was approved at the AGM is the only reason the directors have had a crack at some more "on market" shares. BUT they wouldn't do it if they thought that the BLK thing was the disaster that this picture is painting.....

    Stock Price Chart - HotCopper - Australian Stock Market (ASX) Forum(Remember the BLK ann was just before, on the same day as the directors trades).

    I reckon we might find some interesting news coming our way once we clear the dead patch that is Christmas on the ASX.

    PS My tip for making the silly season really, really silly is Vodka shots. LOL
    especially good if one combines one nip with some lemon sorbet for a "Russian Lemon" (Not my invention but I have claimed the naming rights).

    Gotta split work tomorrow. I leave you clever bu88ers to shoot some holes in my theory.

    Holy cow! We may not need the vods for a silly one. There's gonna be a full moon on New Years eve AND it's gonna be stinking hot (here in Melb anyway). I bet emergency room staff are drawing straws for that shift. Keep safe.
 
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